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CGX Energy Inc V.OYL

Alternate Symbol(s):  CGXEF

CGX Energy Inc. is a Canada-based oil and gas exploration company. It is focused on the exploration of oil in the Guyana-Suriname Basin and the development of a deep-water port in Berbice, Guyana. The Company, through one of its subsidiaries, holds an interest in a Petroleum Prospecting Licence (PPL) and related Petroleum Agreement (PA) on the Corentyne block in the Guyana Basin, offshore Guyana. The Company, through its subsidiary Grand Canal Industrial Estates, is constructing the Berbice Deep Water Port. This facility, located on the eastern bank of the Berbice River, adjacent to and north of Crab Island in Region 6, Guyana, is being constructed on 30 acres with 400 m of river frontage. Its subsidiaries include CGX Resources Inc., GCIE Holdings Limited and CGX Energy Management Corp. It is the operator of the Corentyne block and holds a 27.48% working interest. Its Wei-1 exploration well is located west of the Kawa-1 discovery in the northern region of the Corentyne block.


TSXV:OYL - Post by User

Post by BoDidley5656on Jul 26, 2022 2:16pm
282 Views
Post# 34851614

Kawa vs. Wei

Kawa vs. WeiWell Miftee9 you sound a little mifted.   Firstly, I did make out quite well and bailed at just over $3.  Sorry to pop your bubble.   It is worth a quick review of my previous posts as it all came fairly close to the truth.    At the risk of rattling you further, what I can say is (after putting the incompetant management aside for now) there are a lot of folks who still continue to believe that the Corentyne block is just like the Exxon block.   It is not.   As I have said before, the Corentyne block resides further up the paleo-depositional slope so the thicker and higher quality sands that are present in the Exxon block by passed the Corentyne block and travelled more distally (further down slope) to the basin floor area in the Exxon Block.  Now whether you beleive this or not, I frankly dont care, but don't be surprised if the Wei-1 well finds some thin ratty oily sands just like Kawa and is another $130mm sub-commercial technical discovery.   The big operators that went into the CGX farmout room to see the data also think the same.   So, not that you asking, but be careful so that you do not come across even more bitter.   
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